Leased Retail Strip
841 W 1st Ave Toppenish, WA 98948
For Sale
$1,500,000
Fully leased 8-unit retail strip center built in 2015 with on-site parking and multiple long-term tenants.
Property Size8,640 SF
Lot Size1.28 Acres
Price / SF$173.61
Days on Market141
Property Features for 841 W 1st Ave
General Information
- Standard status
- Active
- Size
- 8,640 SF
- Lot size
- 1.28 Acres
Listing Agency:
John L Scott Yakima
(150) 996-6990
Listed By:
Kevin Rangel Rangel · License #22017029
(150) 996-6990
Source:
Exprealty
Added: Mar 4
Changed: Jul 23
Last Checked: Jul 23 at 2:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of John L Scott Yakima
Investment Insights
Based on property information with market context.
This fully leased 8-unit retail strip center was built in 2015 and totals 8,640 square feet on a 1.28-acre parcel. The center is 100% occupied, with a tenant mix that includes an established insurance agency, a pawn shop operating across three units, Cricket Wireless, a smoke shop, a nail salon, and a spice and herb retailer. Tenant history ranges from 5 to 26 years, and two recent lease signings occurred within the past year.
The property is positioned at 841 W 1st Ave in Toppenish and provides substantial on-site parking. The frontage is along a commercial corridor, with immediate highway access described as part of the asset’s location attributes.
In addition to the in-line tenants, a long-standing food truck operator generates supplemental income and has a reliable payment history. The asset is presented as an in-place income stream with an emphasis on value creation through potential lease and expense structure improvements over time.
The property is positioned at 841 W 1st Ave in Toppenish and provides substantial on-site parking. The frontage is along a commercial corridor, with immediate highway access described as part of the asset’s location attributes.
In addition to the in-line tenants, a long-standing food truck operator generates supplemental income and has a reliable payment history. The asset is presented as an in-place income stream with an emphasis on value creation through potential lease and expense structure improvements over time.
Key Highlights
- Fully leased 8‑unit retail strip center built in 2015 totaling 8,640 SF
- 100% occupied tenant mix includes an insurance agency, pawn shop (three units), Cricket Wireless, and additional retail/salon tenants
- Tenant history ranges from 5 to 26 years, with two lease signings within the past year
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.6k | $15.12 |
| − Vacancy | −$5.5k | −$0.64 |
| EGI | $125.2k | $14.48 |
| − OpEx | −$37.5k | −$4.35 |
| NOI | $87.6k | $10.14 |
8,640 SF · lease $15.12/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.25M
$1.10M – $1.46M
NOI $87,605 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.54M – $2.05M
NOI $122,821 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Melissa's Taco Truck
Restaurant
Topp Gun & Pawn
Discount Store
Premium High LLC
(Bike/Boat/Book/etc) Store
Cricket Wireless Authorized ...
Mobile Phone Store
TOPP Insurance Services
Insurance Agency
FAQs
What type of property is this?
Strip mall - Fully leased 8-unit retail strip center built in 2015 with on-site parking and multiple long-term tenants.
Where is this strip mall located?
The property is located at 841 W 1st Ave Toppenish, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Fully leased 8‑unit retail strip center built in 2015 totaling 8,640 SF; 100% occupied tenant mix includes an insurance agency, pawn shop (three units), Cricket Wireless, and additional retail/salon tenants; Tenant history ranges from 5 to 26 years, with two lease signings within the past year
